The Nicodemus enterprise. [volume] (Nicodemus, Kan.) 1887-1887, 1887-12-23

On Friday morning lie llI42 CITY
was startled by the report has the |
Farmers Bank had closed It's doors,
and the property WAS II the hands
Of the sheriff. The cause or causes
that led to tile failure We ere unable
10 give but gaAelal shr1nEage OF
values seems 10 have Leen the I'M
mediate cause. But let the cause
be what it way, it mas severely IN
iured large number Of innocent
people, and will demonstrate more |
clearly that the government should
be the body to Issue money, and the
only body to receive deposits from
the necple. Some might be afraid
| Il at his would cause the govern
| nl,l4t to do q banking business, hut
this would not follow as the result
of receiving deposits, az it is gener-.
, ally supposed that deposits are
| placed in banks for safe keeping,
! and not for speculation II this IS
true, a government safe III every
/ post office would be juet as conyen-
] | lent, and Just as safe for the de-
pest of private funds for safe keep
! inc. II, as generally supposed,
& money is placed in a bank to be
y absolutely safe froin robbery or
! speculation, let the government pro
!. yided safes for the same purpose
" If it is placed in bands TO be lent OF
X speculated upon, make TIE laws Sc
"a 4bo+ ha,,l, IN receiving q deposit
it gives the same security OF q deposit
\ that it requires Of borrower, anc
VI Tia, Y would deposit Elth their eyes
i omen. Banks may be food, and th'
n men may be food, bat clrcumstanc
r. IS push men to the wall. Now the
\, bio fists come in, and By virtue Q
n strength gobble up all they md
I Mace themselves on the list Of pre-
- ferred creditors, and the poor devils
Of have to whistle through their i'm
III GERS. Osae gentleman remarked
II Chat a National bank would proven
I, such catastrcphies, bat thus IS !
I mistake, as there Is net q s-ngI'
n sentence in the National bankln'
0 law that protects deposition. Their
II Is not a line in the whole law tina
u oives recourse upon a bank, shout
f lend every dollar deposited WIT
% # mon honor. The private bank
9e, are Just as safe fer deposito1s as tn
ill National banks, for deposltors dt
pend upon the honor OF nnen' an
II not upon the strength of the banks
= Aside from robbers or tire7 q ma
SIS MIGHT as well put money under a
4 oIi tin-kettle IN the back yard, a
"a i d bank where security IS nt
q aiyen for deposits To-day q ma
nuts his money IN q bank 2l1d taA'
la' ! deposit check. He virtually say
CO. u the banker, You are honest, al
IN r 7 con on trust YOU" In week his d
i. noS;t & exhausted, ana Ike wants
borrow He then virtually SAYS
the banker, You are honest hu
lch am . rogue, will give yoa secuFl
il for what | need" Then Y9u o'
ID, draft of the banks and send i 6
, + i gets through all right, and 7
- n,onev IS not all gone, it = paid.
Ia ln nt Ton fall back on the bank a.
Sed n Ho1 = 1ehnsted." If YOU SCI
and t though e the postal system. U Tn;
~. SIM never breaks, nor his pap
ever oe weakens. He IS Wiling
~ lake l per cent. a,eyear 1or ,1 mons
per "a when he borraTs, IS whllns
les, tnu r ner cent. As We stated
ing, p ports are rife, ard the facts are
avn Known to US. bnt We viii t enaea'
~. h f. give in the ntnre anytmng g
irles y / learn in regam TO it'-Aos
E'aEFN NAN